Posted on 09/01/2011 7:02:10 AM PDT by Oldeconomybuyer
(CNN) - Though we can never know alternative histories -- in this case, how the economy would have performed absent the stimulus -- the weight of the evidence is that the Recovery Act did what we expected it to do.
It created a few million jobs and shaved a few percentage points off the unemployment rate. But most important, it kept a bad situation from getting a lot worse.
Lots of academic, nonpartisan evidence reveals the Recovery Act created or saved millions of jobs.
One scholarly study by economists Alan Blinder and Mark Zandi that looked at the full spate of anti-recession initiatives -- not just the Recovery Act -- found that "the effects of the fiscal stimulus alone appear very substantial, raising 2010 real GDP by about 3.4%, holding the unemployment rate about 1.5 percentage points lower, and adding almost 2.7 million jobs to U.S. payrolls."
And that is why President Obama is, as we speak, crafting a smaller package of targeted jobs measures to build on the success of the Recovery Act.
Partisans thus need to put aside their talking points, absorb this evidence and get those measures to work in the economy as soon as possible.
(Excerpt) Read more at cnn.com ...
“crafting” a smaller package.............anytime I see this word or hear it used like this, I know what follows is not worth much.
Note tagline.
“created or saved”
The mantra of the economically challenged left.
Post hoc ergo propter hoc is Latin for “after this, therefore because of this.” In modern speech, it can be seen in proud boasts such as, “if I had not bought that new set of expensive clubs, my last golf score would have been far worse.”
Yada, yada, yada! If we had not printed a trillion dollars of air-backed money and spread it around, mainly in bailouts to big banks, the recession would have been far worse.
And these are the smartest people in the room!
clearly the brass at CNN is just as concerned about credibility as they are about ratings
Yep. Hard to argue with the fact that "they" were able to kick the can down the road a little more and delay the inevitable.
Unemployment went from 6% (not good) to 10% (very bad)
How can they say it worked?
We have GOT TO STOP LETTING THEM repeat the lies.
The economy was FINE under Bush until Nazi Pelosi took over in Congress, and the housing mortgage crisis that CREATED this mess was 100% a democrap effort.
GEEZ WE GOT FACTS ON OUR SIDE~!!!!!!!!!!!
We need Palin to say this in her speech. Id we can’t get our own side to repeat the truth then we are doomed.
(DOOMED I TELL YOU~!)
Yeah, it worked like a charm:
It took money from Obama’s political enemies - the productive - and gave money to Obama’s political cronies - unions, politically connected, freeloaders, etc.
It's satire, right...?
Yeah, screw our grandchildren, Let’s Party!!!!
If it “worked” so well, then why is Obama calling an emergency joint session of Congress to present a ‘jobs plan’?
By this reasoning, then it’s accurate to say that after the impact to the financial sector and economy as a whole as a result of the 9/11 attackes on the WTC, the Bush administration created or saved over 100,000,000 jobs and kept the unemployment rate from reaching 80%.
“It created a few million jobs and shaved a few percentage points off the unemployment rate.”
Dear Jared: Prove it. Show me the data. I’ll decide.
BernSTEIN eh,.............hmmmmmmmmm!!!!!!
So quit yer bitchin. obama's stimulus left us all just little worse off than before. Maybe the next president will focus on making actual improvements.
Wrong. Their position immediately loses credibility, since the basis for the Stimulus was to keep unemployment under 8%. That did not happen.
Lots of academic, nonpartisan evidence reveals the Recovery Act created or saved millions of jobs.
I don't buy that, but for the sake of argument, let's say it's true. Now, tell me what the cost was per job saved or created. Try to argue it was worth the cost and increase in the debt. It cannot be done with any honesty. Now, like Quanatative Easing, they just want to repeat a policy that did more damage than good.
There are only two conclusions any reasonable person can reach from what has occurred via this administrations economic policies. The are either grossly incompetent or they fully intend to destroy the US economy.
Scholarly study by Alan Blinder is an oxymoron.
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